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FD STONEWATER AQUIRES EVANSTON METROCENTER OFFICE BUILDING IN EVANSTON, IL

Arlington, VA – FD Stonewater announced today it has completed the acquisition of a Class A, 164,845-square foot multi-tenant office building located at 1007 Church Street in downtown Evanston, Illinois. The iconic building was designed by world-class architect Helmut Jahn and is located less than one block from the Davis Street Station (Metra and CTA) and approximately 13 miles from Chicago’s CBD. The property – 79% leased upon acquisition – is home to several national and international tenants in the education, healthcare, and technology sectors. The acquisition was procured under FD Stonewater’s secondary market, multi-tenant, value-add investment strategy.

The building has been renamed “Evanston MetroCenter,” and ownership is planning to enhance the tenant experience through physical building improvements, expanded tenant services and cosmetic upgrades. The acquisition also includes onsite expansion potential that is currently being evaluated by FD Stonewater’s development team for multiple possible uses.

FD Stonewater Principal Jeff Toporek commented, “we are thrilled to acquire Evanston MetroCenter, particularly on the heels of recently selling One North State Street in the Loop this summer. We have enjoyed success in Chicago and are excited to add such a high-quality, transit-oriented asset to our portfolio.  The asset’s superior location is well-suited to meet the discerning needs of tenants desiring an amenity-rich, urban environment outside of downtown Chicago but only an 18-minute train ride away.”

Andrew Schwartzman, Principal and Head of Acquisitions for the firm added, “Evanston MetroCenter is one of only a few office buildings in all of Chicagoland’s suburbs that offers superior access to mass transit, dozens of walkable amenities, and abundant parking in such a vibrant environment. We plan to restore the property’s stature as a true Class A office building in Evanston with one of the most unique amenity bases in the market.”

About FD Stonewater

FD Stonewater is a boutique real estate investment, development, asset management, brokerage and advisory firm based in Arlington, Virginia, with an office in Los Angeles. The company has a track record exceeding $10 billion in investment, advisory, and development as well as over 40 million square feet of lease transactions.


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FD STONEWATER SELECTED TO DELIVER NEW FACILITY FOR THE STATE OF MAINE IN AUGUSTA

Arlington, VA – FD Stonewater announced that it has been awarded the exclusive rights to negotiate a 30-year lease contract with the State of Maine Bureau of General Services (BGS) for the purchase and redevelopment of the Maine DOT 109 Capitol Street in Augusta, ME. The parcel consists of 9.2± acres with eight connecting buildings and other out-buildings situated two blocks from the State Capitol. The existing structures on site would be demolished to make way for an approximate 89,000-square foot facility for the Department of Health & Human Services. Construction is estimated to commence in mid-2017. The design team is comprised of HGA Architects based in Alexandria, VA and Maine-based Mark Mueller Architects. The general contractor is Landry/French.

FD Stonewater principal, Claiborne Williams, commented, “We are thrilled to have been chosen to be the State of Maine’s development partner on this important assignment which, while delivering a high-quality build-to-suit for a State agency, will also revitalize a large land parcel in the heart of Augusta. Our national expertise in government-occupied real estate, along with the proven track records of our team partners in delivering projects across the State of Maine, are tailor-made for this endeavor. We are truly excited about the opportunity to deliver a new facility which will meet the State’s mission for the next thirty years and beyond.”

FD Stonewater is a leader in designing, developing and owning facilities leased and occupied by government tenants. This will be the 18th such build-to-suit lease project that the firm and its affiliates have successfully delivered on behalf of government tenants. The company has over $200 million of projects underway nationwide, consisting of government build-to-suits, corporate build-to-suits and other commercial projects.

About FD Stonewater

FD Stonewater is a boutique real estate development, investment, advisory and brokerage firm based in Arlington, Va., with an office in Los Angeles. The company has a track record of more than $10 billion in investment, advisory, and development deals and has completed over 40 million square feet of lease transactions. ​


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State Street Office Property Sells for $80 million

crains By RYAN ORI

A San Francisco real estate investor has paid $80 million for a State Street office building, betting it can find new tenants to fill a large vacancy. Shorenstein Properties today said it has acquired the 533,000-square-foot office portion of 1 N. State St., connected towers of 11 and 16 stories. The statement did not name a sale price, which someone familiar with the deal said is almost $80 million.

The sale does not include retail space on the bottom two floors of the building, which are owned separately.

The seller is Arlington, Va.-based FD Stonewater, which bought the property for $31.7 million in 2007, before the recession, according to Cook County property records.

The building’s office space is 45 percent vacancy, according to Shorenstein’s statement.

At more than double the previous owner’s purchase price, Shorenstein is demonstrating confidence in a downtown leasing market where vacancy fell to a 15-year low during the second quarter.

Shorenstein knows Chicago well, having previously owned iconic office properties including the John Hancock Center and Prudential Plaza. Last year, Shorenstein sold the former Apparel Center, now known as River North Point, to Blackstone Group for $378 million.

Jeffrey Toporek, an FD Stonewater principal, did not immediately return calls requesting comment on the sale.

The State Street building was constructed in phases between 1900 and 1912, according to the Shorenstein statement.

FD Stonewater spent more than $10 million over the past two years upgrading the building with a new roof deck, bike room and lobby renovation. Shorenstein plans additional upgrades and new amenities, according to the statement.

The largest tenants are the Noble Network of Charter Schools, the e-commerce office of Sears and co-working firm MakeOffices, all with more than 50,000 square feet.

Ori, Ryan. “State Street Office Property Sells for $80 Million.” Crain’s Chicago Business. Crain’s Chicago Business, 30 Aug. 2016. Web. 06 Dec. 2016.

 


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FD Stonewater Expands Platform with Capital Markets Hire

Arlington, VA – Peter Loukas has joined FD Stonewater as a Vice President of Capital Markets. Peter will focus on debt and equity placement as well as structuring transactions for third party clients, and support the firm’s own principal investment capital market needs. Prior to joining FD Stonewater, Peter served as Director of Structured Finance at Phillips Capital, and as a Senior Associate in the real assets group of Cambridge Associates in Boston and Arlington, VA. Peter had also worked at independent wealth management firms LPL Financial and Hightower Advisors in Boston and New York.

David Stade, a principal at the firm, commented “we’re very excited to have Peter join our capital markets group, and expect he’ll add value immediately to our expanding platform.” FD Stonewater principal Jeff Toporek said, “Peter’s varied background is a unique addition to FD Stonewater. His entrepreneurial approach is an excellent complement to the existing platform and will offer expanded niche capital markets expertise to our clients. Peter will also have an immediate impact on our growing investment and development pipelines for financing, capital raising and joint-ventures.” Peter can be reached directly at ploukas@fdstonewater.com or (703) 537-7623.

About FD Stonewater

FD Stonewater is a boutique real estate investment, development, brokerage and advisory firm with offices in New York, Los Angeles and headquarters in Washington, DC. Collectively, the firm’s leadership has a track record of more than $10 billion in investment and acquisitions and over 45 million square feet of lease transactions.


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BILL MAGNER JOINS FD STONEWATER BOARD OF ADVISORS

Arlington, VA – FD Stonewater announced today that effective January 1, 2016 William Magner joined the firm’s Board of Advisors and will be actively involved in the organization’s continued expansion. In particular, Bill will assist with growing the investor base within the firm’s nationwide principal investment and development platforms. Mr. Magner has a distinguished history in the commercial real estate industry having most recently served as the U.S. President for Cushman & Wakefield. Prior to Cushman & Wakefield, Bill was an International Director for Jones Lang Lasalle (JLL) and Spaulding & Slye, where he served as a Managing Partner of the DC Region prior to JLL’s acquisition of the firm.

FD Stonewater Principal David Alperstein said, “Bill is a long-time friend of the firm and has been a valued partner and mentor to many of us throughout our careers. Adding Bill as an active member of our Board is a tremendous opportunity for us to tap into his broad knowledge base, trusted relationships and strategic thinking as we plot our future path.” Principal Joseph Delogu further commented, “Some of us have known Bill for 20 years and he is one of the most thoughtful and respected professionals in our industry. His experience in managing both boutique firms and large national enterprises, will provide FD Stonewater with insights unique for our growing, entrepreneurial and fully-integrated national platform.”

 About FD Stonewater

FD Stonewater is a boutique real estate investment, development, brokerage and advisory firm with offices in New York, Los Angles and headquartered in Washington, DC. Collectively, the firm’s leadership has a track record of more than $10 billion in investment and acquisitions and over 40 million square feet of lease transactions.


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FD STONEWATER SELLS PORTFOLIO OF GOVERNMENT-LEASED PROPERTIES

Arlington, VA – FD Stonewater announced today the sale of a four-building portfolio, each fully leased by the Federal Government. The portfolio consists of two Customs and Border Patrol (CBP) facilities located in Jacksonville and Riviera Beach, Florida; a U.S. Military Entrance Processing Command (MEPS) facility in Nashville, Tennessee; and an Immigration and Customs Enforcement (ICE) facility in Cary, NC. The portfolio was purchased by Boyd Watterson.

FD Stonewater, attracted by the staggered lease roll over and geographic diversity, originally purchased three of the buildings in 2012 as the first acquisitions for the FD Stonewater/Roseview Fund. During its tenure as owner of the portfolio, FD Stonewater executed lease renewals in two of the buildings and was awarded a long-term lease extension and substantial expansion at the ICE facility in North Carolina.

Jeff Toporek, a Principal at FD Stonewater, commented, “This sale represents a successful execution of our opportunistic Federal acquisition and development program, having purchased existing assets with shorter terms remaining and developed new longer term assets. The properties are mission critical facilities with well-funded government agencies, representing business plans we have been pursuing over the past few years, and it’s great to see the strategy fully realized.” Principal Joe Delogu further commented, “We are pleased to have invested on behalf of a Fortune 100 corporate pension fund and delivered a successful outcome for the strategy from inception to completion. The fund truly employed each of the disciplines fully integrated into our platform including investment, asset management, development and federal leasing – resulting in returns outperforming the original underwriting.”

About FD Stonewater
FD Stonewater is a boutique real estate service and investment firm based in Arlington, Va., with additional offices in Los Angeles and New York, a track record of more than $10 billion in investment, advisory, development and acquisitions, and over 50 million square feet of lease transactions. FD Stonewater offers a fully-integrated, national real estate platform with capabilities in Principal Investment, Development, Asset Management and Brokerage activities. www.fdstonewater.com.


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FD Stonewater Selected to Deliver New FBI Facility in Atlanta, GA

Arlington, VA – FD Stonewater announces that it has been awarded a $101 million, 20-year lease contract by the U.S. General Services Administration (GSA) for the development of a 151,066-rentable square foot, build-to-suit facility for the FBI Atlanta Field Office. Construction is estimated to commence in 1st Quarter 2016; the project will be delivered in in 2017. Powers Brown Architecture is the lead designer for the project and Harvey Cleary Builders is the general contractor.

From FD Stonewater principal Claiborne Williams: “Our team is thrilled to be awarded this monumental lease. GSA and FBI are going to be great partners in this endeavor and we are truly excited about the opportunity to deliver a new field office which will meet FBI’s mission for the next twenty years and beyond.”

FD Stonewater is a leader in designing, constructing, brokering and owning facilities leased and occupied by the government. This will be the 14th such build-to-suit lease project the firm and its affiliates have successfully delivered to the GSA. With the FBI development in the pipeline, the firm has over $150 million of projects underway nationwide, consisting of government build-to-suits, corporate build-to-suits and other commercial projects. FD Stonewater worked diligently for several years to advance a project on the Atlanta site.

About FD Stonewater

FD Stonewater is a boutique real estate service and investment firm based in Arlington, Va., with additional offices in Los Angeles and New York, a track record of more than $10 billion in investment, advisory, development and acquisitions, and over 50 million square feet of lease transactions. FD Stonewater offers a fully-integrated, national real estate platform with capabilities in Principal Investment, Development, Asset Management and Brokerage activities. ​www.fdstonewater.com.


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FD STONEWATER ACQUIRES SINGLE-TENANT ASSET IN SUBURBAN CHICAGO

Arlington, VA – FD Stonewater announced today it has completed the acquisition of a single-tenant property located in Cantera, a 650-acre mixed-use commercial development in Warrenville, IL. The Class A building consists of 136,000 square feet of office space on 19 acres of land with an above-market parking ratio. The building is fully leased to a subsidiary of a top Global Fortune 500 company and is replete with a high-tech creative office build-out.

FD Stonewater has a long track record of successful investment and advisory strategies in Chicagoland. Nationally, the company has completed over $467 million of property acquisitions and development. Regarding the Cantera transaction, David Stade, a Principal at FD Stonewater, commented, “Within four years, as the current lease expiration approaches, we expect to reposition the property for sale to an owner/user or lease to a tenant who wishes to take advantage of the state-of-the-art facility, a parking ratio of more than 5/1,000 square feet, and excellent freeway visibility.”

About FD Stonewater

FD Stonewater is a boutique real estate service and investment firm based in Arlington, Virginia, with offices in Los Angeles and New York with a track record of more than $10 billion in investment, advisory, development and acquisitions and over 40 million square feet of lease transactions. FD Stonewater offers a fully-integrated, national real estate platform with capabilities in Principal Investment, Development, Asset Management and Brokerage activities. www.fdstonewater.com.


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FD STONEWATER AND LYNXS GROUP ACQUIRE SINGLE-TENANT ASSET IN GRAND JUNCTION, COLORADO

Arlington, VA – FD Stonewater and Lynxs Group announced today they had completed the acquisition of a single-tenant property located in Grand Junction, Colorado. The multi-purpose industrial hangar and office facility is located within the airport grounds of the Grand Junction Regional Airport, and is fully leased to a single-tenant with a long-term lease. The transaction exemplifies FD Stonewater’s strategy of acquiring single-tenant, mission-critical facilities nationwide. The company has acquired in excess of $200 million of these types of assets encompassing more than 3.0 million square feet.

The facilities were acquired in a joint venture with Lynxs Group, a developer specializing in airport facilities worldwide; the seller, P&L Properties, also remains a partner in the new ownership structure. David Stade, a Principal at FD Stonewater, commented, “Complicated deals with ground leases and multiple parties at the table such as this one can be more challenging to transact, but we tend to specialize in them and have built a solid track record doing it.” Andrew Schwartzman, FD Stonewater’s newest partner, added, “We’re excited by the opportunity to work with our new partners to continue to build value at the Grand Junction Airport in an enterprise that will continue well into the future.”   Ray Brimble, Founder of Lynxs Group, said, “The location is outstanding with a world-class business aircraft maintenance and refurbishment service in the facility. We are pleased to be associated with this site.”

About FD Stonewater

FD Stonewater is a boutique real estate service and investment firm based in Arlington, Virginia, with offices in Los Angeles and New York with a track record of more than $10 billion in investment, advisory, development and acquisitions and over 40 million square feet of lease transactions. FD Stonewater offers a fully-integrated, national real estate platform with capabilities in Principal Investment, Development, Asset Management and Brokerage activities. www.fdstonewater.com.

 About Lynxs Group

For the past 20 years, Lynxs Group has invested, developed and managed aviation related properties domestically as well as internationally. Lynxs’s entrepreneurial origins remain at the core of our endeavors as well as our spirit of innovation and creativity to develop and manage high-quality airport related projects around the world. Lynxs Holdings LP owns and/or operates aviation related properties in the following cities: Austin, Corpus Christi, San Antonio, and Houston, TX; Ft. Lauderdale, FL; Sacramento, CA; Anchorage, Alaska; and Vienna, Austria. Please visit our website for more details. www.lynxs.com.


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FD STONEWATER ACQUIRES SINGLE-TENANT ASSET IN NASHVILLE, TN

Arlington, VA – FD Stonewater announced today it has closed on the acquisition of a single-tenant property located in Nashville, TN. The transaction exemplifies one of FD Stonewater’s platform strategies; namely, acquiring single-tenant, mission-critical facilities nationwide. The company has acquired and developed in excess of $275 million of these types of assets encompassing more than 2.8 million square feet.

The 123,000-square foot building is located in the Airport South submarket of Nashville and is 100% leased to Asurion, a leading technology company headquartered in Nashville. Asurion provides mobile protection, electronics warranty protection and customer support services globally.

Andrew Schwartzman, FD Stonewater Principal of Acquisitions commented, “We are truly excited to add to our portfolio in the Nashville market. The asset basis, tenant quality, high parking ratio and improving location were strong drivers in our decision to acquire the property.” Jeff Toporek, a Principal at FD Stonewater, further commented, “2014 was a busy year for us acquiring 300,000 square feet of single tenant assets and expanding our other investment and development strategies nationally. We look forward to growing that significantly in 2015 and are on target to close on multiple investments in the first quarter.”

About FD Stonewater

 FD Stonewater is a boutique real estate service and investment firm based in Arlington, Virginia, with offices in New York and Los Angeles. The firm has a track record of more than $10 billion in investment, advisory, development and acquisitions and over 40 million square feet of lease transactions. FD Stonewater offers a fully-integrated, national real estate platform with capabilities in Principal Investment, Development, Asset Management and Brokerage activities. www.fdstonewater.com


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